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Horizontal patterns in foreign exchange
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CT-August 2008-6
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An old-fashioned tool seems to be making a comeback.
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Detailed Description
Technical analysis offers a wide choice of tools, and just about every technique will work in the forex market at least some of the time. Also, indicators go in and out of fashion. In the 1980s everybody was in love with the moving average convergence-divergence indicator (MACD). During the 1990s, the stochastic oscillator was popular. Candlesticks might be the mascot of the current decade.
Oddly, a really old-fashioned indicator is evidently gaining favor 50 years after it was revealed the Darvas Box.
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